Cathie Wood’s ARK Invest has sold another 43,956 Coinbase shares as the stock hits an 18-month high of $119.7 per share.
What is GBTC? The Grayscale Bitcoin Trust, which trades under the ticker GBTC, is an investment vehicle that trades similar to a stock, with each share representing a specific amount of Bitcoin (BTC). Grayscale is a company providing various financial products. It originally launched GBTC in 2013. The product trades over the counter (OTC), although Grayscale aims to transform it into an exchange-traded fund (ETF). Historically, the price of Grayscale’s GBTC has traded notably above and below the equivalent value of the underlying BTC per share when compared with trading Bitcoin on crypto exchanges. This price difference is referred to as the GBTC premium. Is GBTC a good way to buy Bitcoin? GBTC essentially gives people outside of the cryptosphere the opportunity to own Bitcoin that is packaged similar to a stock under traditional United States regulations.
Bitcoin funding rates are in classic bull market territory, but can BTC price upside sustain as macro-volatility triggers line up?8867
Cathie Wood’s ARK Invest has continued accumulating Robinhood shares while dumping Grayscale Bitcoin Trust shares.7013
There’s an eight day window between Nov. 9 and Nov. 17 where all 12 spot Bitcoin ETF filings could be approved by the SEC, according to Bloomberg ETF analysts James Seyffart and Eric Balchunas.58572
The stars are lining up for Bitcoin price, but a few major price threats remain in play.13099
ProShares and Grayscale lead a surge of activity in Bitcoin investment products, with analysis confident of implied demand for a spot Bitcoin ETF.60330
Comments from institutional investors and amendments to the spot Bitcoin ETF applications could be behind the recent improvement in investor sentiment.2487
Some analysts say GBTC’s discount is narrowing because investors are pricing in the SEC’s approval on several pending spot Bitcoin ETF applications.13399
Bitcoin analysis flags liquidity waiting in the wings above and below the current BTC price range, while GBTC erases more of its discount.17826
Bitcoin started the week with an uptick in investor sentiment, but there are three major factors preventing BTC price from recapturing the $30,000 level.14124
Bitcoin sits in the shade as the GBTC share price creeps ever closer to 1:1 against the BTC price.6230
This week, The Market Report discusses Grayscale’s victory against the SEC, the impact of Evergrande’s bankruptcy, and what happened to the 16 trillion PEPE tokens reportedly stolen.3500
GBTC shares trading at a lower implied value to BTC price may soon be a thing of the past, a new prediction says.7999
BTC price volatility returns as good news over GBTC’s conversion to a spot Bitcoin ETF sends markets rallying.13720
Grayscale Bitcoin Trust conversion to an ETF will unlock a potential sale of up to $18 billion in Bitcoin.19931